Connect Biopharma (NASDAQ:CNTB) Research Coverage Started at Lake Street Capital

Lake Street Capital started coverage on shares of Connect Biopharma (NASDAQ:CNTB) in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $9.00 price objective on the stock.

CNTB has been the subject of several other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Connect Biopharma in a research note on Wednesday, October 8th. Wall Street Zen upgraded Connect Biopharma to a “hold” rating in a report on Friday, August 22nd. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Connect Biopharma in a research note on Wednesday, August 13th. Finally, BTIG Research reaffirmed a “buy” rating and set a $10.00 price target on shares of Connect Biopharma in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.67.

Connect Biopharma Stock Performance

Shares of Connect Biopharma stock opened at $2.65 on Monday. Connect Biopharma has a 1 year low of $0.51 and a 1 year high of $3.28. The firm’s 50-day moving average is $1.96 and its 200 day moving average is $1.65. The stock has a market cap of $148.15 million, a price-to-earnings ratio of -3.63 and a beta of -0.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.48 and a quick ratio of 5.48.

Connect Biopharma (NASDAQ:CNTB) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). Sell-side analysts anticipate that Connect Biopharma will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd purchased a new stake in shares of Connect Biopharma in the second quarter valued at $29,000. AlphaCore Capital LLC purchased a new stake in shares of Connect Biopharma in the 2nd quarter worth $78,000. Finally, Koa Wealth Management LLC bought a new position in Connect Biopharma during the 2nd quarter worth about $49,000. 58.72% of the stock is owned by hedge funds and other institutional investors.

Connect Biopharma Company Profile

Connect Biopharma Holdings Limited, a clinical-stage biopharmaceutical company, engages in the development of therapies for the treatment of T cell-driven inflammatory diseases. The company is building a pipeline of small molecules and antibodies using functional T cell assays to screen and discover potent product candidates against validated immune targets.